Updated Fri, October 28th 2016 at 00:00 GMT +3National carrier Kenya Airways cut its losses by more than half to Sh4.8 billion in the six months to September raising hopes that it may be flying out of its turbulence.PHOTO: COURTESYNational carrier Kenya Airways cut its losses by more than half to Sh4.8 billion in the six months to September raising hopes that it may be flying out of its turbulence. The airline, however, saw a dip in its revenues, which declined to Sh54 billion in the six months period to September 30, down from Sh56 billion. "The reduced capacity saw revenues drop by 3.5 per cent to Sh54.7 billion. Other factors that affected the airline are fluctuations in currency and oil prices as well as high cost of borrowing. The group's cost of borrowing increased during the period to Sh3.8 billion," said the airline.

Source: Standard Digital October 27, 2016 16:15 UTC